CryptoMediaClub
Tuesday, July 29, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

Breaking: PayPal launches PYUSD stablecoin for payment

07.08.2023
A A
0
126
VIEWS
ShareShare

American financial technology company PayPal launched a new stablecoin called PayPal USD (PYUSD) on Aug. 7.

The U.S. dollar-pegged stablecoin will be issued by Paxos Trust Co. and fully backed by U.S. dollar deposits, short-term Treasurys and similar cash equivalents. It’s built on Ethereum and “designed for digital payments and Web3,” with the firm saying it will soon be available to United States customers.

PayPal USD compatibility with crypto exchanges, Web3 apps and crypto wallets. Source: PayPal

PYUSD will be redeemable for U.S. dollars at all times, can be exchanged for other cryptocurrencies on PayPal, and will be transferable between PayPal and Venmo. The company claims it will soon be available as a mode of payment for various purchases.

PayPal launching a stablecoin could accelerate its efforts to become a crypto payment giant, an initiative the company started in 2020 after making way for crypto payments on the platform.

PayPal boasts over 350 million active users and already lets users in the U.S. and the United Kingdom buy, sell and hold Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) while also enabling payments in the assets.

PayPal CEO Dan Schulman hopes the new stablecoin will become a part of the overall payments infrastructure. The company first confirmed its plan to launch a crypto stablecoin in January 2022, claiming it would work closely with relevant regulators.

While there are multiple stablecoins available in the crypto market, PayPal will be the first launched by a major payment processor. Paxos CEO Charles Cascarilla told Cointelegraph:

“With the launch of the first stablecoin by a leading financial institution, PayPal and Paxos are proving the real-world value of blockchain technology. PayPal USD is the most significant leap forward for digital assets and the financial industry, and Paxos is proud to enable this transformative product.”

The firm claimed that the regulatory environment around stablecoins in the U.S. is gradually “progressing toward more clarity,” and thus, there is demand for an alternate stablecoin than what is currently available in the market.

Related: US Treasury says it must ‘modernize and adapt’ to digital currencies

The crypto stablecoin market has a $126 billion circulating supply, dominated by Tether-issued USDT (USDT) (which has an $86.5 billion market cap) and followed by Circle-issued USD Coin (USDC) (with a $26 billion market cap) and a few others. However, many stablecoins have recently faced regulatory hurdles in the United States, where policymakers are currently discussing a bipartisan stablecoin bill.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

Magazine: Yuan stablecoin team arrested, WeChat’s new Bitcoin prices, HK crypto rules: Asia Express

Share10Tweet6ShareSharePin2

Related Posts

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei
Blockchain

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei

18.07.2025
0

Skip to content

Read moreDetails
Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

17.07.2025
LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

14.07.2025
Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

14.07.2025
Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

08.07.2025
Load More
Next Post
Decentralized asset management system launches for Arbitrum, Optimism

Decentralized asset management system launches for Arbitrum, Optimism

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Solana Price Prediction Following Recent Rally – What Do Market Indicators Suggest?

Solana Price Prediction Following Recent Rally – What Do Market Indicators Suggest?

1 year ago
Оборудование для майнинга: Как выбрать лучший вариант для добычи криптовалют

Оборудование для майнинга: Как выбрать лучший вариант для добычи криптовалют

11 months ago
Web3 Quests Aim To Drive Fan Engagement At Real Life Events and Online

Web3 Quests Aim To Drive Fan Engagement At Real Life Events and Online

1 year ago
Increased demand and heightened volatility signal further upside for Bitcoin – Glassnode

Increased demand and heightened volatility signal further upside for Bitcoin – Glassnode

9 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

South Korea’s Biggest Parties Roll Out Stablecoin Bills, Clash on Interest Payment Plans

Bitcoin Faces Doomsday Scenario as Whales Exit – Bitcoin Hyper (HYPER) Rewrites the Narrative, ICO Hits $5.4M

Bitcoin steadies near $114,800 but fragility risk rises as leverage climbs

BNB ($BNB) Bulls Charge Ahead to $843, Can Institutional Momentum Push It Higher?

Bitcoin Market Cycles and BTC Rallies Are Outdated

Bitcoin Price Prediction: Global Firms Pour $86B Into BTC – Could This Trigger a New “Institutional Supercycle”?

Trending

Interactive Brokers Mulls Stablecoin Launch to Serve Users
All news

Interactive Brokers Mulls Stablecoin Launch to Serve Users

29.07.2025
0

Interactive Brokers is weighing the launch of its own stablecoin, potentially deepening its involvement in digital assets...

Crypto Price Prediction Today 28 July – XRP, Solana, Dogecoin

Crypto Price Prediction Today 28 July – XRP, Solana, Dogecoin

29.07.2025
BlackRock’s ETHA becomes 4th-largest ETF by 30‑day inflows as Ethereum funds aim for $10B

BlackRock’s ETHA becomes 4th-largest ETF by 30‑day inflows as Ethereum funds aim for $10B

29.07.2025
South Korea’s Biggest Parties Roll Out Stablecoin Bills, Clash on Interest Payment Plans

South Korea’s Biggest Parties Roll Out Stablecoin Bills, Clash on Interest Payment Plans

29.07.2025
Bitcoin Faces Doomsday Scenario as Whales Exit – Bitcoin Hyper (HYPER) Rewrites the Narrative, ICO Hits $5.4M

Bitcoin Faces Doomsday Scenario as Whales Exit – Bitcoin Hyper (HYPER) Rewrites the Narrative, ICO Hits $5.4M

29.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz